Click here for an archive of Cramer's "Mad Money" Recaps.


Did you sell Google ( GOOG) on Thursday night? That's what Cramer asked his viewers at the outset of his "Mad Money" show on CNBC Friday night. "If you sold Google yesterday, you panicked," Cramer said. "This is a case of pure, unadulterated panic."

The journalists acted like it mattered, Cramer said. "And they caused a stampede." The "it" he was referring to is seasonality. Uninformed reporters acted like seasonality matters, he said.

"Don't listen to the words that management says," either, Cramer continued. Management gave investors the runaround the quarter before as well when it talked about seasonality. These growth companies don't have seasonality, Cramer said. "Seasonality doesn't make a bit of difference to Google," he said. What matters is earnings, which will be $8 a share next year.

Cramer said the stock is cheaper than Yahoo! ( YHOO), eBay ( EBAY - Get Report), Marvell Technology ( MRVL) and Whole Foods Market ( WFMI). Still, even with Prudential's $400 price tag -- which it affixed to the stock earlier this week -- Cramer said that he is holding to his $350 target for the stock.

'Lightning Round'

Bullish

Cramer was bullish on: Whole Foods, H&R Block ( HRB), Halliburton ( HAL), Valero ( VLO - Get Report), Chesapeake Energy ( CHK), SirF Technology ( SIRF), CompuCredit ( CCRT), United Technologies ( UTX - Get Report), Buffalo Wild Wings ( BWLD), Identix ( IDNX), Chicago Mercantile ( CME - Get Report), Kerzner International ( KZL), Flir Systems ( FLIR), Aspect Medical Systems ( ASPM) and Ultra Petroleum ( UPL).

Bearish

Cramer was bearish on: EchoStar ( DISH), Stillwater Mining ( SWC), Icos ( ICOS), DSP Group ( DSPG), HCA ( HCA), Cerner ( CERN), Agilent Technologies ( A), JetBlue ( JBLU - Get Report) and Wells Fargo ( WFC - Get Report).

Hello Moto

Motorola ( MOT) is Cramer's pick of the week. Indeed, instead of waiting until next week to proclaim the company his stock of the week, Cramer said he had to tell his viewers on Friday night instead. Cramer wants investors in the stock now. Bottom line? "Own Motorola," he said.

Doing a little housecleaning, Cramer got back to SanDisk ( SNDK), which posted second-quarter earnings Thursday that were better than expected. Cramer issued a mea culpa, saying that he had been cautious on the stock. He underestimated the company, he said.

Jim Cramer had always-feisty markets commentator Herb Greenberg on as a guest again. The two talked about Hansen Natural ( HANS) and Tempur-Pedic ( TPX - Get Report).

Greenberg said Hansen's stock has gone down lately not because the company recently said it would split shares 2 for 1 (instead of the 3 for 1 that some investors seem to have been hoping for), but because it's too expensive. The stock has climbed on the back of momentum investors, Greenberg said. Cramer acknowledged the red-hot nature of the stock, but said he always looks for places to make people money. Greenberg, for his part, said that he tries to help investors save money.

As for Tempur-Pedic, the stock has been red-flagged by Greenberg. The company has a lot of competition. Even though the stock was down almost $6 on Friday, after it posted weaker-than-expected second-quarter sales, Greenberg said the stock still isn't a buy. Cramer concurred with Greenberg's assessment of the company and the stock.


1. Pigs Get Slaughtered 2. It's OK to Pay the Taxes
3. Don't Buy All at Once 4. Buy Damaged Stocks
5. Diversify to Control Risk 6. Do Your Homework
7. Don't Panic 8. Buy Best-of-Breed
9. Defend Some Stocks 10. Don't Bet on Bad Stocks
11. Own Fewer Names 12. Cash Is for Winners
13. No Regrets 14. Expect Corrections
15. Know Bonds 16. Don't Subsidize Losers
17. No Room for Hope 18. Be Flexible
19. Quit When Execs Do 20. Patience Is a Virtue
21. Be a TV Critic 22. When to Wait 30 Days
23. Beware the Hype 24. Explain Your Picks
25. Find the Bull Market

At the time of publication, Cramer was long Halliburton, Motorola and Yahoo!.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict."